Glu Mobile Inc. (GLUU): Hedge Fund Sentiment Unchanged

Due to the fact that Glu Mobile Inc. (NASDAQ:GLUU) has faced bearish sentiment from hedge fund managers, it’s easy to see that there is a sect of funds who were dropping their positions entirely by the end of the third quarter. Interestingly, Jim Simons’ Renaissance Technologies said goodbye to the biggest stake of all the investors followed by Insider Monkey, totaling about $0.9 million in stock. Cliff Asness’ fund, AQR Capital Management, also said goodbye to its stock, about $0.7 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Glu Mobile Inc. (NASDAQ:GLUU). These stocks are Consolidated-Tomoka Land Co. (NYSEAMEX:CTO), Heritage-Crystal Clean, Inc. (NASDAQ:HCCI), Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP), and Mazor Robotics Ltd – ADR (NASDAQ:MZOR). This group of stocks’ market caps resemble GLUU’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CTO 8 121400 -1
HCCI 6 50196 2
CRBP 5 51279 -2
MZOR 5 29463 0

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $63 million. That figure was $31 million in GLUU’s case. Consolidated-Tomoka Land Co. (NYSEAMEX:CTO) is the most popular stock in this table. On the other hand Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Glu Mobile Inc. (NASDAQ:GLUU) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None